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CAAM predicted sales of 28.1 million units of automobiles in China this year, representing no growth compared to 2018. In the forecast, passenger vehicle sales are expected to comprise 23.7 million units, while commercial vehicles would see a mild increase of around 1 percent to 4.4 million units.

By the end of 2018, outstanding non-principal guaranteed wealth management products stood at 22.04 trillion yuan, roughly the same as the end of 2017. The outstanding interbank WMPs declined 62.57 percent year-on-year to 1.22 trillion yuan, demonstrating a significant reduction in idle funds, said a report co-issued by China Banking Association and China's Banking Sector Wealth Management Registration and Trusteeship Center on March 29.

By the end of April, 65 foreign central banks, international financial institutions and sovereign wealth funds had entered China's interbank bond market. In addition, 304 overseas institutional investors, including commercial banks, insurance companies, securities companies, fund management companies and other asset management institutions, have already invested in the onshore bond market, data from the China Central Depository and Clearing Co Ltd show.

By doing so, the company provided opportunities to hand the torch to the younger generation in unleashing their potential to see if they could make a difference to the world through their knowledge and understanding, said Xu.

By the end of December, the number of registered privately offered funds reached 81,739, rising 9.51 percent from the end of 2018, according to the AMAC.